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U.S. automakers will get the huge union concessions they need.(AUTO INDUSTRY)
Kiplinger Letter, The, November, 2006
U.S. automakers will get the huge union concessions they need when the United Auto Workers union hammers out a master contract with one of the Big Three, probably GM. Once GM and the UAW ink a deal, parallel agreements with Ford and DaimlerChrysler will follow soon after.
The UAW knows it has no choice but to go along or lose thousands of union jobs as the carmakers struggle to survive. Points it will yield:
Much lower employer health care contributions...maybe just 75% of premiums instead of the 100% they've been paying. Plus automakers will get the right to pass along future annual increases in premiums and to raise premiums and deductibles for retired union autoworkers.
A deep cut in pay for new hires...to somewhere in the neighborhood of...
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